@Anonymous wrote:Hello everyone,
I'm new to this forum, but have read very useful information on here, so I thought I would join in
I'm a 25-year-old medical student with no real income (since I'm a student), but I also don't have a loan, as my parents are generous enough to pay for my education.
About my credit history:
I was approved in Feb 2016 for the amazon store card ($1700), then made the mistake of applying for the Chase Freedom Unlimited on July 2016, since Credit Karma stated my chances of approval as "Very High", but Chase told me was my credit history was not enough and told me they needed to see "at least 9 months".
Amazon store card history: I always pay on time and my max usage was around $400, but I paid it off already.
Now, I waited until today to apply for a Discover Student Card, and they have asked me to upload proof of my identity. I'm not waiting for their response. Correct me if I'm wrong, but I read a post on this forum that proof of identity probably means an acceptance.
My question is when to apply for a 3rd credit card and what card would be best.
I'm worried about graduating from Med School and not having access to low interest rates due to not enough credit history.
Thank you everyone.
What card will be best is going to be subjective and depend on your needs. I would certainly not apply for a third card until you have at minimum 6 months of history. Since you don't have other forms of credit on your report my advice would be just use the two cards for a year of history and then you will be in a pretty strong position to pick up some more. If you insist on going for a third card prematurely then I would strongly recommend you only consider cards that allow you to do soft pull credit line increase requests. I believe you can do a SP CLI with the discover card. Look into lenders like cap 1, amex. Cap 1 will likely give out a larger credit line than other lenders. Amex is good about giving credit line increases over time. I would avoid lenders who require hardpulls for credit line increases because you may get a card with a low limit and then have a hard time growing it later. Once you are out of school and have income with a year of revolver history you will be in a much much stronger position. Keep in mind that credit is not a race. You can pick up a bunch of cards but there will be consequences. You may run afoul of the chase 5/24 rule and then you will not be able to get cards you might want from Chase. I don't know if any of those cards appeal to you, but you mentioned the freedom card.
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@red259 wrote:
@Anonymous wrote:Hello everyone,
I'm new to this forum, but have read very useful information on here, so I thought I would join in
I'm a 25-year-old medical student with no real income (since I'm a student), but I also don't have a loan, as my parents are generous enough to pay for my education.
About my credit history:
I was approved in Feb 2016 for the amazon store card ($1700), then made the mistake of applying for the Chase Freedom Unlimited on July 2016, since Credit Karma stated my chances of approval as "Very High", but Chase told me was my credit history was not enough and told me they needed to see "at least 9 months".
Amazon store card history: I always pay on time and my max usage was around $400, but I paid it off already.
Now, I waited until today to apply for a Discover Student Card, and they have asked me to upload proof of my identity. I'm not waiting for their response. Correct me if I'm wrong, but I read a post on this forum that proof of identity probably means an acceptance.
My question is when to apply for a 3rd credit card and what card would be best.
I'm worried about graduating from Med School and not having access to low interest rates due to not enough credit history.
Thank you everyone.
What card will be best is going to be subjective and depend on your needs. I would certainly not apply for a third card until you have at minimum 6 months of history. Since you don't have other forms of credit on your report my advice would be just use the two cards for a year of history and then you will be in a pretty strong position to pick up some more. If you insist on going for a third card prematurely then I would strongly recommend you only consider cards that allow you to do soft pull credit line increase requests. I believe you can do a SP CLI with the discover card. Look into lenders like cap 1, amex. Cap 1 will likely give out a larger credit line than other lenders. Amex is good about giving credit line increases over time. I would avoid lenders who require hardpulls for credit line increases because you may get a card with a low limit and then have a hard time growing it later. Once you are out of school and have income with a year of revolver history you will be in a much much stronger position. Keep in mind that credit is not a race. You can pick up a bunch of cards but there will be consequences. You may run afoul of the chase 5/24 rule and then you will not be able to get cards you might want from Chase. I don't know if any of those cards appeal to you, but you mentioned the freedom card.
Not going to agree with you on this one...
Having only an Amazon Store card and a Discover.. needs something from another processor.... Having only the Discover card to rely on?....
So midas well have another card thats on a different network and can age at the same time...
That's a relief. Guess I won't be applying for a Chase card until Feb 2018 
I will! 
Thank you and everyone else for the helpful posts!
I'll update as soon as I get a reply for my Discover application.
Getting impatient, so I can gave them a call and told me the same thing: "Your application is being processed and I will receive an answer by mail in around 7-10 days."
The "answer by mail" part worries me that I will be declined 
App status page shows the same verification document upload page...Please someone tell me this is normal